Ekovest is likely to continue trending higher, as it bounced off the 21-day average line while attempting to move above the MYR0.44 immediate resistance level yesterday, supported by high volume. If the breakout happens above that level, the bulls may drive the stock towards the next resistance level of the MYR0.47 recent high, followed by MYR0.515. Conversely, falling below the immediate support of MYR0.41 may trigger the resumption of a downward correction – forming a “lower low” bearish pattern.

Source: RHB Securities Research - 18 Feb 2022